Wikipedia

Draft:GuarantCo

GuarantCo was established in 2015[1] and provides long-term local currency credit solutions to finance sustainable infrastructure projects and develop local capital markets in lower income countries in Africa and Asia.[2][3][4][5]

Background

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The organization was founded as part of the Private Infrastructure Development Group (PIDG).[2] GuarantCo's activities are managed by GuarantCo Management Company which is part of Cardano Development.[6] GuarantCo was established in 2005 in Port Louis, Mauritius, to enable sustainable infrastructure in lower income countries across Africa and Asia by mobilising private sector funding.[7][8]

GuarantCo is funded by the governments of the United Kingdom, Switzerland, Australia and Sweden through the PIDG Trust, the Netherlands through FMO and the PIDG Trust, France through a stand-by facility and Canada through a repayable facility provided by Global Affairs Canada.[9][10]

The company is governed by a Board of Directors. GuarantCo's CEO is Layth Al-Falaki.[11]

Partnerships

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In 2017, the Nigeria Sovereign Investment Authority (NSIA) and GuarantCo co-founded a credit guarantee company InfraCredit Nigeria to develop infrastructure in Nigeria, by providing financing solutions to local currency infrastructure bonds. GuarantCo provided a USD 50 million callable funding facility to allow InfraCredit to achieve a high domestic rating to increase its attractiveness to bond investors.[12][13]

In 2019, GuarantCo provided a 2.5 billion partial credit guarantee to investors in Acorn’s KES 5 billion note programme to fund the construction of accommodation for 5,000 students in Nairobi.[14][15][16]

In 2021, GuarantCo provided InfraZamin Pakistan with a contingent capital facility of PKR 8.25 billion (USD 50 million) to invest in renewable energy, healthcare, transport, and digital communications infrastructure projects.[17]

In 2022, GuarantCo provided Axis Bank, the third largest bank in India, with a USD 200 million INR equivalent guarantee to accelerate the e-mobility eco-system in India.[18][19]

In 2021, GuarantCo provided PRAN Agro, a Bangladesh leading agro processor, with a 100% credit guarantee for a BDT 2.1 billion (USD 25 million) on-shore bond with a 7-year tenor to attract domestic institutional capital from Bangladesh and support PRAN Agro's expansion plans.[20]

In 2022, GuarantCo provided a VND 1,150 billion (c. USD 50 million) partial credit guarantee to support a VND 1,725 billion (c. USD 75 million) bond issuance by EVNFinance, a premier non-bank financial institution in Vietnam. Vietcombank Securities (VCBS) a leading investment bank and securities firm in Vietnam acted as the mandate lead arranger on the transaction.[21][22]

References

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  1. ^ "About GuarantCo". GuarantCo. Retrieved 2023-11-29.
  2. ^ a b "GuarantCo". www.pidg.org. Retrieved 2023-08-29.
  3. ^ "GuarantCo : Credit Enhancement for Infrastructure | IISD". www.iisd.org. Retrieved 2023-08-29.
  4. ^ "GuarantCo is a Development Financing Institution which supports infrastructure development in low... | Green Mini Grids". greenminigrid.afdb.org. Retrieved 2023-08-29.
  5. ^ "GuarantCo | Devex". www.devex.com. Retrieved 2023-08-29.
  6. ^ "Home". Cardano Development. Retrieved 2023-11-30.
  7. ^ "Watering the green shoots: Africa's evolving PPP environment – KPMG Global". KPMG. 2023-02-20. Retrieved 2023-08-29.
  8. ^ "(PDF) GAP supported Projects that have reached financial close€¦ · 2017 Myanmar Energy InfraCo Asia Myanmar Embedded Contract Advisor 0.15 2017 Myanmar Water, Sewerage and Sanitation". dokumen.tips. Retrieved 2023-08-29.
  9. ^ "About GuarantCo". GuarantCo. Retrieved 2023-11-30.
  10. ^ Leontiev, Elle (2023-01-18). "Swedish International Development Cooperation Agency provides GuarantCo with a USD 100 million, 20-year re-guarantee facility to alleviate poverty across Africa and Asia". Cardano Development. Retrieved 2023-11-30.
  11. ^ "GuarantCo appoints Layth Al-Falaki as CEO". www.emeafinance.com. Retrieved 2023-11-30.
  12. ^ Review, GT (2017-01-18). "Nigeria unveils new credit guarantee company". Global Trade Review (GTR). Retrieved 2023-11-30.
  13. ^ "Financial market system buoyed as Infracredit signs agreement with FSD Africa". BusinessDay.
  14. ^ "Kenya closes its first ever green bond". GOV.UK. Retrieved 2023-11-30.
  15. ^ "London Stock Exchange | London Stock Exchange". www.londonstockexchange.com. Retrieved 2023-11-30.
  16. ^ Miriri, Duncan (2020-01-16). "Kenya's first green bond starts trading on the bourse". Reuters. Retrieved 2023-11-30.
  17. ^ admin (2021-06-28). "InfraZamin Pakistan – InfraCo Asia, Pakistan's First-Infrastructure Finance –". News Update Times. Retrieved 2023-11-30.
  18. ^ Bhaumik,DHNS, Anirban. "India, UK decide to push for sealing ambitious FTA by this year". Deccan Herald. Retrieved 2023-11-30.
  19. ^ "Prime Minister Boris Johnson's visit to India, April 2022: UK-India joint statements". GOV.UK. Retrieved 2023-11-30.
  20. ^ "PRAN Agro issues Tk 2.1b international bond". The Financial Express. Retrieved 2023-11-30.
  21. ^ "EVNFinance secures $50m for Vietnam green bonds | News | IJGlobal". www.ijglobal.com. Retrieved 2023-11-30.
  22. ^ VnExpress. "VCBS tư vấn thành công hơn 1.700 tỷ đồng trái phiếu xanh". vnexpress.net (in Vietnamese). Retrieved 2023-11-30.


Category:Companies established in 2015 Category:Private equity firms Category:British companies established in 2015

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